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Student Loans

Graduate with Ball and Chain

You’d think that a company that sues people for student loan debts would have to prove that they owned the debt. But this complaint claims that the defendants in this class action can’t do that. 

Equitable Acceptance Corporation Logo

Plaintiff Vanessa Williams took out student loans totaling approximately $21,000 for her education. When SLF Center called her and told her it could obtain loan forgiveness for her, she was naturally interested. But according to the complaint for this class action, all that happened was that Williams was saddled with yet another loan, via Equitable Acceptance Corporation (EAC). 

PHEAA Entrance

Plaintiff Arianne Gallagher finished law school in 2011. Since she took a public service job after that, she was eligible for certain programs to help her pay her student loans, but in the years since then, her loan total has grown to more than $160,000, her payments have ballooned from just over $800 to over $1,900, and her eligibility for forbearance has been exhausted. The complaint for this class action claims that this is the fault of poor performance by the loan servicer, the Pennsylvania Higher Education Assistance Agency (PHEAA).

Student with Heavy Backpack Representing Loans

Transworld Systems, Inc. (TSI), Weltman, Weinberg & Reis, Blitt and Gaines, NECO Financial Systems (EGS Financial Care, Inc.), and other National Collegiate Student Loan Trust (NCSLT) entities have agreed to settle a lawsuit alleging that they violated state and federal laws in the process of trying to collect student loans.

Navient Name on Building

According to the complaint for this class action, Navient’s statements on its recent 10-K and 10-Q filings misled investors into thinking that it exercised care in making loans and advising students on repayment plans. Thus, the complaint says, when an October 2017 lawsuit alleged that Navient (1) engaged in deceptive practices to make subprime loans, and (2) it steered student borrowers into forbearance plans that postponed payments and allowed interest to accumulate rather than pointing them to income-driven repayment plans, Navient’s stock abruptly lost 14% of its value, damaging shareholders.

The complaint for this class action alleges that Wells Fargo Bank, NA violated the Telephone Consumer Protection Act (TCPA), because it used an automatic telephone dialing system or an artificial or prerecorded voice to make calls to cell phones in connection with a student loan, without the consent of the cell phone owners.